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High Court Accepts IBM Employees' Stock Suit

Case may make it harder for workers to sue when their retirement plans lose money because the company stock price falls.

By Greg Stohr | June 05, 2019 at 09:30 PM

The U.S. Supreme Court will use a case involving IBM to consider making it harder for workers to sue when their retirement plans lose money because the employer’s stock price falls.

The justices said they will scrutinize a lawsuit that claims IBM plan managers didn’t do enough to protect employees from stock losses stemming from a money-losing chip manufacturing unit. The company agreed in 2014 to pay GlobalFoundries Inc. $1.5 billion to take the unit, triggering a $12.95 one-day drop in IBM shares.

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